Common use of Renewal and Modification Clause in Contracts

Renewal and Modification. Issuer further agrees that the Indebtedness may be from time to time, extended, renewed, modified, rearranged, or evidenced by one or more other notes or obligations in substitution for this Note and upon and for such term or terms agreed to by Issuer and Holder in writing, and with or without notice to other Parties. Issuer agrees that upon and after such extension, renewal, modification, rearrangement, substitution, or other change in form of the Indebtedness, each of the other Parties shall remain liable in respect of the Indebtedness so renewed, extended, modified, rearranged, or otherwise evidenced in the same capacity and to the same extent as prior thereto. No release or discharge (in whole or in part) of any Party hereto by Holder shall in any manner impair, release, discharge, or alter the liability of any other Party.

Appears in 5 contracts

Samples: Wits Basin Precious Minerals Inc, Wits Basin Precious Minerals Inc, Wits Basin Precious Minerals Inc

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Renewal and Modification. Issuer Parties further agrees agree that the Indebtedness may be from time to time, time extended, renewed, modified, rearranged, or evidenced by one or more other notes or obligations in substitution for this Note and upon and for such term or terms agreed to by Issuer Parties and Holder in writing, and with or without notice to other Parties. Issuer agrees Parties agree that upon and after such extension, renewal, modification, rearrangement, substitution, or other change in form of the Indebtedness, each of the other Parties Party shall remain liable in respect of the Indebtedness so renewed, extended, modified, rearranged, or otherwise evidenced in the same capacity and to the same extent as prior thereto. No release or discharge (in whole or in part) of any Party hereto by Holder shall in any manner impair, release, discharge, or alter the liability of any other Party.

Appears in 2 contracts

Samples: Precision Aerospace Components, Inc., Precision Aerospace Components, Inc.

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Renewal and Modification. Issuer Issuers further agrees agree that the Indebtedness may be from time to time, extended, renewed, modified, rearranged, or evidenced by one or more other notes or obligations in substitution for this Note and upon and for such term or terms agreed to by Issuer RMI and Holder in writing, and with or without notice to other Parties. Issuer agrees Issuers agree that upon and after such extension, renewal, modification, rearrangement, substitution, or other change in form of the Indebtedness, Indebtedness each of the other Parties Party shall remain liable in respect of the Indebtedness so renewed, extended, modified, rearranged, or otherwise evidenced in the same capacity and to the same extent as prior thereto. No release or discharge (in whole or in part) of any Party hereto by Holder shall in any manner impair, release, discharge, or alter the liability of any other Party.

Appears in 1 contract

Samples: Raybor Management Inc

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